Keeping your credit score strong even after you buy a home

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When they say “it ain’t over ’til it’s over” they must not have been talking about credit scores. Keeping your score high is just as important after you buy a home as it was before you closed escrow, so don’t go on autopilot or revert back to old habits.

According to RealtyTimes’ Jaymi Naciri, while you may have met the goal of homeownership, keeping your scores up can benefit you in several ways. For one, you can get more credit cards, including those cards offered by stores with 0 percent financing for things like furniture, appliances and outdoor fixtures with no interest for several months. But watch out. Once your happy no-interest period expires, your rate can skyrocket if you don’t pay the entire balance. Still, if you just want to buy a little time until a few more paychecks or commission checks roll in, it’s not a bad way to go, using their money instead of your own for a short time.

Cards that offer miles, cash back, or some other perk aren’t offered to just anyone, but if your credit is good, they may be knocking down your door. “If you keep your credit score high enough to snag one, you’ll love being able to rack up miles to use for travel or apply a cash back bonus to everyday expenses to keep costs down,” says Naciri.

And here is something you may have forgotten: many employers run your credit as part of the hiring process. Let your credit drop, and it could keep you from getting a new job.

On top of all this, you never know what’s going to happen to interest rates. Good credit means that when rates drop you can jump in a heartbeat if you want to refinance, sell or buy another home.

Source: TBWS


All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

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ADVERTISEMENT |  an Equal Housing Lender  (www.nmlsconsumeraccess.org) | Terms, conditions, and restrictions may apply. Loan products are subject to availability and credit approval. Not a commitment to extend credit.

Important notice regarding recent wire fraud attempts:   Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Your lender will NEVER provide you with wiring instructions and will NEVER ask you to wire funds.  Please contact the settlement company and get wire instructions directly from them.  Never trust wiring instructions sent via email. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.  Also, ask your settlement company if bringing a cashier’s or certified check is an option, instead of a wire, for your funds needed at closing.

LaVerne StMary

Sr. Mortgage Loan Professional

NMLS: NMLS# 113731

Mortgages and Lifestyle

363 N Sam Houston Pkwy. E Suite1100, Houston TX 77060

Company NMLS:

Cell: 832-253-3966

Email: laverne.stmary@gmail.com

Web: http://ThatsMyLender.net

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LaVerne StMary

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Sr. Mortgage Loan Professional

NMLS: NMLS# 113731

Cell: 832-253-3966


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